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tv   The Willis Report  FOX Business  June 26, 2014 5:00pm-6:01pm EDT

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website is launched this week. mensa has 57,000 members. no word how many signed up for mensa match. david: would that be fun? "willis report." gerri we all heard of the good housekeeping seal of approval. no one gets to see the process. you had a very rare exclusive look at it. gerri: thanks for that. yes we were behind the scenes with good housekeeping. how often do people put their money where their mouth is? good housekeeping does that. july 4th weekend travel expected to hit near record high. we have must-see national parks. it is user's guide to summer vacation. the revolutionary technology helping people who are paralyzed move again. and it is all done through the power of tout with a little help from bionics. we'll meet two amazing people. hit it is portfolio tune-up today. is now time to sell westerns and buy losers? our experts are here to help.
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"the willis report" where consumers are our business starts right now. we begin tonight with a tune-up for your portfolio. it's a fox business network wide special, making sure your nest egg is working for you. we're sifting through the confusion, giving you clear, concise information that will help you boost your bottom line. tonight, award winning financial advisors here to make sure your portfolio stays balanced. ric edelman has been ranged by "barron's" three types as the top financial advisor in the whole country. author of 12 consecutive national best-sellers, david bach. he is joining edelman financial services. welcome to you both. this is bonus panel. i'm so excited to have you both here. >> we're thrilled to be with you, gerri. gerri: so nice. talk about rebalancing. a lot of people out there, their stocks have taken a huge run and i will start with you, rick, hey, why not let the winners run, market on fire.
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>> because if you said that in 2007, we know what would have happened after that. not because we think the stock market is going to crash. we don't think that at all. we think the stock market will continue to do well. the problem if you don't rebalance your diversified portfolio will be 100% stocks and taking massive risks that you didn't anticipate. gerri: maybe at time you most likely don't want to do that. show some full screens. you get started rebalancing. maybe intention was quarter, quarter, stocks bonds, government and bonds and cash, after time it starts looking a little loopy dave bach. what do you say? >> i think how i've been coming on the show with you since the recession, saying stocks are cheap. this is the time to be buying. recession made people millionaires. we've seen the market double. you will show that here in a second. the secret, we hear, buy low, sell high. we're not suggesting that people sell right now. we're suggesting people rebalance right now. and secret to building wealth long term is having professional asset allocation strategy.
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that is rebalanced automatically. now is deaf time for people to look at that. gerri: here is what people look at. they see this bull market. what is going on with stocks. take a look at this. the dow is up 103% over last five years. s&p 500 up 118%. you know what? a lot of our viewers, rick, have never experienced that. >> they are uncertain what to do next. what you have to do, do simple things. don't get cocky, don't get giddy. number two, don't get scared either. this is wonderful opportunity to recognize your wealth bidding for the future, long term. your long-term goals. don't worry what will happen in the market rest of this month or rest of this year. focus on college for your kids in five or 10 years. your own retirement in 10, 20, or 30 years. maintain a diversified portfolio. rebalance it if you don't you will end up with lopsided portfolio that is riskier than you expected. >> we have a screen, if you don't rebalance what happens, 58% stocks over the period. this is unsustainable and very risky for people who may be
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approaching retirement, right, dave. >> that is exactly right. believe it or not, what we see people do right now is exact opposite what they should do, gerri. think look at portfolios and they often put more mon into what has gone up the most. say small caps gone up 30%. they take money out of a bond fund maybe zero%, put it in one going up the most. exact opposite what you want to do. right now, again is the time to rebalance. we're giving people that warning and rick said, don't be cocky or giddy. i would say, don't be greedy. this is when people get greedy. this is the wrong time to get greedy. gerri: yeah. we heard that many times. be fearful when people are greedy and be greedy when people are fearful. rick you say not just stocks and bonds. there is more out there. >> no. there is much more. we provide our clients with 18 asset sectors. there is small cap, mid, growth, value, emerging markets. in world of bonds there are short term, inheter immediate,
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u.s. government, foreign, corporate, real estate, oil and gas, precious metals and the list goes on and on. by the way cash is an asset class. so we have to recognize -- gerri: not in your mattress this time. >> money market fund, government treasurys, cds, those are, those count. people stay i'm out of the market. no, you're just in a different market. that is why they call it a money market account. gerri: have you guys given up on index funds. >> absolutely not. we're both huge proponent of index fund in etfs. when you look at model of edelman financial has, they include index and etfs. we're big proponents of index fund. >> clearly far superior. lower in cost, lower in risk. better in diversification and able to achieve goals you have. gerri: i want to walk through the full screen on managing your portfolio. we bringing it down into steps. easy piecesy steps. build a diversified portfolio or time interval or percentage drift. stock portfolio goes up 100%.
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go in there and rebalance. track an rebalance when triggers are hit. it is that easy. >> if you don't know how to do it, don't want to do it, which big thing for lot of folks, too busy doing other things, don't have the time, hire an advisor. either do it yourself or have someone do it for you. gerri: you can do it yourself, right, david. >> you can but most people don't, they do the exact opposite. the problem with asset allocation, if it is not automatic, most people don't do it or do it wrong. gerri: do it wrong. you guys are doing it right. you're getting together. rick, what is going on here? >> well as you know, david and i have been on parallel tracks past 20 years. david is best-selling author. i'm a best-selling author. he is on the show a lot. we're doing seminars around the country. we're doing same thing. we're doing successful money management strategies, financial planning importance. we're partnering together because we'll be able to get our missage out into the marketplace bigger and better to reach millions of americans to get it done right. at the same time, train
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financial advisors so they can do a better job in serving their own clients. gerri: david? >> well, big part of this partnership, we've been following each other for at least 15 years. i got tired of leaving a show like this and having people behind the stage, david, i need a financial advisor, who can you send me to you trust and i had no one. i reached with the phone, i want to stop saying no and want to start saving yes. want to help the people out there. i want a financial advisor but don't know where to go. i knew where to go. now we have a relationship. gerri: i got to tell you. i think your biggest benefit you're inspirational and telling people to set aside money for retirement and other goals and showing them precisely how do it. that is great stuff. >> thank you. gerri: rick and david, thanks for coming on. good to see you. >> good to see you. thanks for having us. gerri: we have more ways to tune-up your portfolio. the new phenomenon of robo advisers. is it good for you if we'll find out in 20 minutes. a lot more to come this hour
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including your voice. we want you to facebook me, tweet me, gerri willis@fbn. what do you want to hear about. at the bottom of the hour i will read some of those comments. next, is the economy tipping toward another recession? say it ain't so. we'll examine latest numbers what economists worried. stay with us.
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gerri: the economy limping along. questions whether we may tip back into another recession. the latest economic reports on the economy don't look good. despite what the federal reserve says. for more on this heritage economist steve moore is with us. steve, welcome back. >> hi, gerri. gerri: the economy shrinks 2.9% in the first quarter and we're supposed to still blame the weather? can you believe that? >> i don't think many americans believe that. i said when the original numbers came out, 1% reduction in gd maybe brutal weather in the
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east. here we are halfway through in the second quarter, almost near the end and numbers as you said they're pretty fragile. they're pretty flimsy. i describe it, gerri, as a schizophrenic economy. some of the statistics look good and some look pretty awful. gerri: i couldn't agree more. i was looking at chart of gdp you have to go back to the recession, great recession to find a dip as deep as this one. this looks really bad. i have to say, you talk about something flimsy in the economy. you talk about something structurally going wrong. what could it be? >> i think its washington, i have really do. there are so many negative incentives to grow business right now whether it is the health care law, whether it is tax increases we had a year-and-a-half ago, whether new carbon emission standards. all of these things add up to a bearish environment. it is amazing, gerri, as you talk about every night on your show, we've had for the last 18 months a record stock market.
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it has been a fantastic. a great ride. american companies are profitable. what i always come back to, here is the real next of the problem -- nux. they are not reinvesting profits to expand their businesses because they're afraid to. gerri: i hear that all the time from executives. people on the show telling us we're not sure what is around the corner. we can't see. you say government is dysfunctional. that is creating a lot of the problems. i want you to listen to what the president said at town hall meeting in in minnesota today. he kind of echoes your thoughts. >> are there some federal workers do boneheaded things. absolutely. i first week on the jockey talked to my defense secretary bob gates and older and been there a long time. do you have any advice for me, bob? one thing you should, mr. president, at any given moment on any given day somebody in the federal government is screwing up. gerri: you know, i don't find that acceptable coming from the president. the organization i run, he says,
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is a screw-up. that to my is astonishing. >> listening to that quote, gerri ask he referring to the irs erasing incriminating files? is that what he means by a screw-up. gerri: irs, va, there is a long list. gao. >> you know, i think there is real appetite from the american people of next president, whoever it might be coming in and not just talking about screw-ups but really holding people accountable. i believe having been in washington for 30 years, could you come in and could probably eliminate 15% of 20% costs in every agency. this is what businesses done over last five years. they have cut costs. they have reduced their debt. their balance sheets look good. the balance sheet that looks awful today is washington's. gerri: regardless, some people think this economy is on fire and only going to get hotter. james bullard, the st. louis fed president, on opening bell
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today, here is what he said. >> the first quarter gdp is giving me heartburn but, still, i'm willing to look through that and, i'm seeing the lower unemployment and good jobs numbers as a better indicator of underlying strength in the u.s. economy. gerri: can you look through that, steve? can you say that 2.9% number, negative growth and gdp, a shrinking in the economy? can you say it doesn't matter? >> you know, he is right that what matters is what's ahead, not what's behind us. so i agree with that. look, i've been an optimist as you know about the economy. i expected us to do a lot better than we are right now. but this number we came out this week it really gives me pause. look, even if we get december growth rest of the year, gerri, we'll be lucky to finish by the end of the year at 2%. that is pathetic. we've should be growing the economy 4 or 5%. what we had during five years of recovery we never had a big
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breakout. i'm skeptical we'll see anytime soon. we'll stay in the rut of 2%. the problem with that gerri, it doesn't provide amount of jobs we need to put 17 million americans out of work into jobs. it also doesn't provide the kind of economic momentum to get wages up. that is the bigger concern right now is wages. gerri: but, steve, you know, around yet, and yet, single-family home sales up nearly 20%. >> i know, unbelievable. gerri: how do you explain that, with the economy overall shrinking so much? >> exactly the point i was making about the schizophrenic data coming out. that was an awesome data point. i was doing cartwheels when i saw that number. it's a fantastic number. here is something to worry about, gerri. you have housing values rising. people's income are not rising. gee, this sounds familiar, doesn't it? this happened in 2006 and 7 and 8 and caused housing bubble. the prices are rising but affordability index is falling. that suggests to me we may be in a little bubble situation again.
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gerri: wow. okay, i hope you're wrong for the record. >> i do too. i do too. i'm still optimistic we'll get 2% growth. we could be doing so much better. >> i know what makes you do cartwheels, steve. thanks for coming on tonight. >> see ya. gerri: still to come, a pike at how good housekeeping decides which products deserve their could have individualed seal. list of national treasures. the national parks you need to visit this summer. our user's guide to somer vacations is coming up. ♪. [ laughter ]
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gerri: hey, it is almost the 4th of july holiday, right? what better way to celebrate independence day than to go to one of the nation's great parks. here with our top picks is the deputy director for the national park service. thanks for coming on. i love the national parks. >> that is great news. gerri: i'm so glad to talk about them. now i understand, this is going to be a record year for 4th of july travel. some 35 million people will travel by automobile. are you expecting more folks than last year to go to the national parks? >> yes. we do see an increase, pretty much year-over-year in visitation. although we who who haver right around 280 million people that visit national parks every year. gerri: wow. >> that is tremendous amount of folks coming to see our parks. gerri: no kidding. start with my favorite, great smokey mountain national park. tell us how many people you expect there and what people should see when they are there? >> great smokey mountain national park is certainly one
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of the highlights of the system. we have 401 unit parks across the entire country. that is wonderful thing. there are gems throughout people can enjoy a day trip or even planning a huge trip for the family or just doing an afternoon out. now if folks are lucky enough to plan a full trip to great smokey mountain as national park, i was there a couple weeks ago, right now you can see bears, either early, early in the morning or right around evening time. we also have a about 200,000 people a year that do hikes all throughout great smokey mountain national park. i mean the water falls and while i was there, you know, the height, elevation in the mountains, you could have all kinds of weather t was just a couple weeks ago. within a 20 minute period, we had hail, we had snow, we had sun. really no matter what kind of experience you're looking for, whether it is just a simple day hike or something more intense, great sneakky offers all of
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those opportunities -- smokey. gerri: i love it. my family lives very close by. talk about yosemite, another beautiful park. >> hard to talk about the national park service without talking about yosemite. this is particularly special year about yosemite. 150 years ago exactly the whole idea for the national park service and system started with lincoln accepting the land grant for yosemite. they have a summer series of events planned to really celebrate what was the beginning of one of america's best ideas. gerri: i got to tell you -- go ahead. gerri: it is scary seeing those people climb that face or that stone face. you see tiny little people very far away scaling that. let's talk quickly about the golden gate national recreation area, if we could. >> yes. golden gate national recreation area is one of our urban parks. if you're standing anywhere in san francisco and in green space and can see the bay bridge you're in golden gate national correct r recreation area. this park offers running.
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folks can get out there to picnic. it's a wonderful urban location that is great for visitors near and far. and really a highlight in the system in terms of offering activities for urban communities and getting kids outside who really want to enjoy and experience without having to pack up the whole car or buy a plane ticket or do anything that is that expensive. you can head out if you're in san francisco or heading for vacation there and enjoy something right in your backyard. gerri: i've been to all three. all gorgeous. all wonderful. >> lovely. gerri: christine, thanks for coming on. great stuff. unfortunately we have to leave it there. we could go on and on. >> thank you, gerri. have a great day. gerri: we want to know what you think. what is your favorite national park? great smokey mountains, the grand canyon, yosemite or something else? go on to gerriwillis.com and vote. i will have the results at end of tonight's show.
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coming up should you ditch your financial advisor for a robo advisor? where there is a will, there is a way. one man shares his story, how he left his six-figure job and emptied his 401(k) to launch a small business. stay with us.
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:: ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪
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my mom works at ge. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems,
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especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. ♪ gerri: does this seem like you can do everything online? with the touch of a button you can read a book, watch a movie, even chat with your friend. now you can set up and manage your own portfolio. welcome to the show. so, you are being called. companies like yours. is that of way of saying what you are doing? explain how you manage money better than others. >> i love the term robo-advising. i think of us as more high-tech, high-touch. customers come to us because they have had a recommendation from friends or family member.
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they tell us about their goals. based upon those, whether it is build wealth or retirement, we create an optimal portfolio and manage it over time for tax efficiency, rebalancing. gerri: you are doing this all on line. do i ever talk to anyone? >> people have come to expect everything to be on line. you can talk to us any time. we have great customer support. gerri: i can pick up the telephone and talk to someone. let me ask you this question. i hope it does not embarrass you, but what is your expertise to be a financial adviser? most of these guys a lot of schooling. >> i studied economics at harvard, went to columbia business school. i think you are a fellow alum. i got my csa. i have studied investment. gerri: you have studied for 15 years. to develop the portfolios you are recommending? added that happen? is it sort of one size fits all, or is there a lot of individualization?
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>> we have experts internally and internally. we have people. external experts to manage money for decades. every portfolio is personalized. 75 million american investors and seven -- 75 million uniquely managed portfolios. gerri: the problem is if you are young and don't have a lot of money to manage you may not be able to afford a full-time financial adviser. >> and that is one of the reasons i wanted to create this firm. to make those strategies available and accessible to anyone. gerri: anybody. if you don't have to million or 1 million or even 100,000. >> that's right. gerri: i want to show, you do not hide your fees. take a look at this video. on the website. just cruising around looking at things. if you want to know what the fees are, all you have to do is hit this little sliding mechanisms on the website and it tells you exactly what they will
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be. not a percentage, although it gives you that. the dollar figure you would have to pay. this is one of the issues when it comes to individual investors when they're money might be managed, what am i paying, how much is it. is this something you are trying to solve? >> absolutely. this is full transparency. we tell you exactly what you will pay, and over time their is a line item that says, this is a much you paid us. it is complete transparency. i have never seen that in a brokerage firm before. are no hidden fees, transactions costs. gerri: do you expect people to stay with you for a long time? >> we have 90-year-old, many active -- all kinds of customers 25 percent of our assets come from people 55 and older. gerri: interesting stuff. the wave of the future. jon stein, thank you for your time. coming up in a half-hour, a special making money.
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doing a book on retooling your portfolio and will be teaching on this topic. you do not want to miss that. you will explain it all. launching a business in today's economy is at least a little daunting, but our next guest faced the list head-on, quit his high-paying job, wiped out his nest egg, cast doubt his retirement to start the business of his dreams. we are continuing our weekly segment with eric schneider, founder of head rush based in kansas city, missouri. welcome to the show. great to have you here. i have to tell you. >> thank you. gerri: you are most welcome. good to have you here. one of the things that financial advisers tell me all the time, do not cash out your 401(k) to start a business. you have. how did you do this successfully ? >> well, yeah. i received the same device. it really boiled down to, prior
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to opening up a coffee shop by was in commercial insurance for 25 years. and i ran into that scenario to where i was just burned out and really needed to do something else at that point. and so at that time i look to buy options on how to go about it. using the 401(k) ended up being a viable option for me. gerri: you actually had a very decent savings on hand to start your business. why did you choose a coffee shop ? >> great question. i did not start drinking coffee until my mid 30's, but when i finally gave in and had that first drink, i quickly fell in love with it. and it was kind of like a lot of people love to research.
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i did the same thing with coffee gerri: so it was a love affair really. we are seeing pictures of your store right now. it is really pretty. tell us, you started this business several years ago. what were the biggest obstacles? >> the biggest obstacles, there were really too. and the first thing to get over my fear and do it. i guess if you are in a job where you are burn down, then when the pain becomes great enough you finally pulitzer. that is obstacle number one. obstacle number two was finding the right location. with a coffee shop really any type of retail business, location, location, location. we looked at 16 different locations before we decided on the one we're in. gerri: next time i am in kansas city i will head rush headrush
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roses coffee and tea. >> and would love to have you. [laughter] gerri: and you are doing a great job. thank you for coming on and sharing your story. >> thank you very much. i appreciate it. gerri: you are most welcome. now we want to hear from you. here is with some of your posting on our facebook page. what is your favorite national park? archers in utah. gettysburg. it shows what determined patriots will do for their families. yosemite, i love that place. followed by the grand canyon. yosemite. good stuff. here are some of your e-mails about our segment yesterday about how to restart a car. we will rerun it. i find it astonishing that you and fox are the ones letting people what to do if the ignition switch is accidently turned off. i do not on a gm vehicle, so
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maybe they are informing owners but i have not heard that they are. thank you. you are wonderful. then is from nevada agrees, the segment from restarting your car , an immense public service. it should be aired and repeated. this video will save lives. we will reach here that. we love hearing from you. send me an e-mail. coming up, hundreds of products under for the seal of approval. an inside look at their high-tech labs where products are put to the test. here is your consumer gauge. s&p up nearly 6% year to date. looking pretty good. home prices up 5%. it pays to be a consumer. we will be right back. ♪ i ys say be thman with the plan
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but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent
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that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath? [ exhales deeply ]
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[ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry mouth. gerri: from curve tvs to moisturizers and recipes, they did house keeping institute
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tests the mall. have to decide which get the seal and not. comeuppance for a look behind closed doors. i want to see the beauty lab. you guys have everything. ha. >> yes, we do. this is where scientists, biologists, and chemists hard testing products. the everything from hair color to taking care of your colored hair. and so this is -- gerri: pop -- popular shampoo. she does test this stuff, seriously test the product. it's a very measured. we are measuring the same amount of product every time we apply. real looking at how much moisturizer there was before we applied and then after. ♪ gerri: this is your kitchen. i love it. >> it's all about redevelopment and testing the recipe. easy to make it home.
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at like 5:00 every single night, the biggest surge on the web is a chicken recipe. >> 70 percent of americans don't know what they're making for dinner yet. gerri: so as the summer of testing. >> we have an amazing meal. there's the 1 pound bunch of asparagus. gerri: this looks great. >> just the right amount. one thing that sparked our interest or these no cook dishes . all this is a cut up watermelon. you cut off the two sides. all you do is cut off the sides one. at a time.
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gerri: juicy. >> think about how easy this is to do. gerri: so, this is the first one i have ever seen. what is the point? >> it is meant to improve the viewing angle. we wanted to see if it really works. we definitely saw improvements on the outside edges, but as with all technology it is cost prohibitive. there is more content available. gerri: some improvements, not ground breaking? >> i would not say is worth the money yet. here we have the philips deal. timers, scheduling. gerri: it looks like you have callers. >> who want to pull color for the core.
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we have this on some of the toys on the other side of the room. if you have a child at home, and pat you want to look if the this allows you to remotely do things in your own. gerri: which of these products are difficult to use? >> we touched on the emperor's court category. the one definitely takes a little bit of help to install. you might want to have a handy man do it for you. thermostats, once said upper user views. gerri: tell me about this. >> always advocate for women and their families. that means when we are testing we find cards that can be dangerous and may not be what you want them to be and bring that forward. this costume, and was supposed to have no harmful chemicals,
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but it turned out this is treated more messes. we stopped accepting those ads in 1952, and this was 12 years before the surgeon general. again, always looking forward. gerri: tell me about the seal of approval. >> the most recognized, trusted customer and woman america. we go through the process to my rigorous process of testing products against the promise. when you purchase something with the seal we give you our warranty that we will replace it or give your refund if it is defective. scientists, technicians and engineers go through our rigorous process to said that we can stand behind the promise of this product. gerri: it was a fun trip. a good housekeeping research institute was founded in 1900.
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well, germany in the united states are facing off today, but not just on the soccer field. i spent part of my day behind the wheel of the most american of american sports cars, the corvette. we went up to consumer reports where the new corvette was tested head to head. tomorrow on "the willis report" i will tell you the winner. guess what i want for my birthday? check it out. still to come, my "2 cents more" and new hope for people with paralysis. a computer chip is letting it paralyzed man move his hand with his thoughts. next we will talk to the patient and his doctor on this medical breakthrough. ♪
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♪ gerri: well, and major medical breakthrough could provide hope for millions of people living with paralysis. doctors have succeeded in getting a paralyzed man to move his hand. that is all thanks to a new technology called narrow bridge. here to explain, the doctor and patient. welcome to you both. i will start with you. explain this technology. >> basically, it is a chip that interprets the wavelength generated by the brain when you initiate movement. it then bypasses the spinal cord sending the information to a computer his sense it to a stimulator consequences imposes to a combination of 200 the electrodes that we taped to his former and house the sequence of
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simulations of the liver determines the type of movement. gerri: how long does it take you to decide to try this when he heard about it? >> it did not take me long and all. i definitely had to take some consideration because i was going to have to undergo brain surgery that was not necessary, but the ability to have a hand movement was great. a jump that it. gerri: tell me, how much movement does he have right now? how much more might he do it? >> because of his injury he is limited to soldier on "the willis report" shoulder movement . the ship was placed in the location to help them generate movement in his forearm and hand
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just getting started and still working with it. every day we're seeing more complex responses among responses that i sophisticated. every day is exciting. gerri: it sounds like it. but. tell us about how you were injured and what happened and house of year your paralysis is. >> i was injured a little over four years ago. a dove into a wave and hit a sandbar. i instantly knew that i have broken my neck and did not move. it pretty much affects me from the elbows down. i can move my shoulders around, but i have no movement or sensation in my hands. gerri: it sound
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>> i have to concentrate on that specific movement in order for
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the computer to pick it up and the stimulative to activate my arm. gerri: so you are trying to mimic what you see. how much further do you expect him to gain? what are your near-term goals? >> well, the near term as low we're still working on developing better algorithms. we have to see how long the chip in last, learn from there. it will require of the trials and subjects. in terms of full recovery, there are other things we can explore. right now reasonable hand function is our goal. gerri: and just amazing to see you move your hand like that. that is terrific, and i am sure you are giving a lot of people a
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lot of hope. thank you for telling a story. >> think you. gerri: we will be right back with my gerriwillis.com and the answer to our question of the day. stay with this. ♪ tdd#: 1-800-345-2550 searching for trade ideas that spark your curiosity
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gerri: go pro as concured wall street, making its debut on the nazdaq today, surging more than 30% but what is top pro go video. charles: jumping off of an antenna? number 4, a pelican, he was abondoned by its nex flock and n in by a bird rehab, and teach the bird thousand fly.
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a back thing over a canyon. earning a second place finish. two, a lion hug. kevin gets a good morning greeting from his pride of furry friends. >> one best go pro, highest free freefall,24 mile jump from space on video, the first person to reach supersonic speed without traveling in a jet on a spacecraft. unbelievable. well, tonight's user guide to summer vacation gave us an up close look at the national parks, what is your favorite park, 18% said the great smokey
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mountains, 18 the grand canyon, 27% yosemite, 38% other. >> more bad news for gm, congressional committee released some details among findings gm logged more than 800 incidents where airbags did not deploy in the chevy cobalt. and gm called 29,000 chevy cruise cars in model year 2013-15, gm told dealers to stop selling them, "consumer reports" said that tkpw-pl gm recalled ms more vehicles than it sold today, ceo, saying that more recalls are inevitable. consumers can expect that and gm
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to come clean, and change the culture. that is it for tonight's willis report, thank you for joining us, dvr the show if you can't catch us live, charles payne is next. >> on making money, a impeach portfolio opportunity up. -- opportunit tune up, we grapph taking profits but it is harder taking a loss. how one of my real life blunders can help you. americans are starting to save again, there are major economic implications. and lebron james gets a free pass. if you make millions wearing a uniform, the public loves you. if you make millions wearing a suit and tie, wel

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